When managing a project that involves procurement, you may feel overwhelmed by all the different types of contracts and which is ideal for you. One of these is the Cost Plus Incentive Fee (CPIF) contract. This is a type of…
When managing a project that involves procurement, there are different types of contracts that you may use. Whatever type you decide to go with, properly structuring it is key to risk management. One of the contract types that you can…
As organizations scale, aligning various projects to the overall business strategy is critical. Enterprise project portfolio management (EPPM) provides that alignment. By managing projects, programs, and portfolios centrally, you gain visibility into work across the enterprise which enables you to…
For any Six Sigma project, analyzing data is a critical step after measurement and data collection. When using the DMAIC approach in the Six Sigma methodology, teams examine the data to identify the root causes of defects and errors in…
Quality management is a key knowledge area in project management. To deliver high-quality projects, you must consider the cost of quality. An important component of the cost of quality is the cost of conformance which is the cost incurred to…
For Lean and Six Sigma professionals, you probably know that a control plan is a key component of process improvement. As part of the control phase in the DMAIC approach, it allows you to sustain gains made during your Six…
When initiating a project, two important concepts that frame and guide the entire project management life cycle are project scope and project requirements. Now it’s common to see these terms used interchangeably, but they are actually different. In this post,…
When using the DMAIC approach in the Six Sigma methodology, having an effective well-crafted data collection plan is crucial for the Measure phase. Having this enables you to focus your data collection efforts on gathering the right information to answer…
Cost of quality is an important concept to understand when managing projects. Specifically, cost of nonconformance which refers to the costs incurred when project deliverables fail to meet quality standards. As a project manager, having a solid grasp on nonconformance…
Lean and Six Sigma are two of the most popular process improvement methodologies used in business today. With origins in manufacturing, both focus on reducing waste and defects, albeit with different approaches. Lean aims to optimize workflow and maximize value,…